Home > Back to Search Results > Bank holiday ordered...
Click image to enlarge 601853
Show image list »

Bank holiday ordered...

Item # 601853

March 06, 1933

FITCHBURG SENTINEL, Fitchburg, Massachusetts, March 6, 1933 

* United States Bank Holiday 
* The Great Depression 
* Franklin D. Roosevelt

The front page has a banner headline: "ELY IS GRANTED BROAD EMERGENCY POWER" with subheads (see photos). This action would have the desired effect of stopping the panic run on the nation's banks, and happened the day after F.D.R. was inaugurated. One of the more historic issues from the Depression-era

Other news, sports and advertisements of the day. Complete in 10 pages, minor margin wear, otherwise nice.

wikipedia notes: : The United States Bank Holiday of the Great Depression took place in 1933 when Franklin D. Roosevelt closed the banks from March 6 to March 10 to keep depositors from bankrupting the banking system by withdrawing all their money.

Banks were allowed to reopen when they could prove that the money in their reserves was greater than or equal to the money that had been deposited in. If the banks were unsound they would stay closed or could apply for a government loan in order to keep from declaring bankruptcy.

Category: The 20th Century